On 02 March 2023, Strike Energy Limited (ASX: STX) announced its fully funded gas acceleration strategy after receiving around AU$136 million from the sale of its Warrego Energy Limited shares. The strategy aims to bring up to four sources of gas production online by the end of 2025, starting with Walyering in early 2023, to take advantage of favorable market conditions in Western Australia.
The Board has approved a substantial capital program, including drilling five wells across South Erregulla, West Erregulla, and Ocean Hill, acquiring 240km² of 3D seismic at Ocean Hill, 128km of 2D seismic at Eneabba Deep, and 484 km of 2D seismic across the large Permian Arrino and Kadathinni leads. The gas acceleration strategy is designed to convert material Contingent and Prospective Resources to Reserves, bring online production from up to four sources of gas by end-2025, and acquire data to delineate further upside in Strike’s portfolio.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
